We consider the problem of testing for a structural break in the spatial lag parameter in a panel model (spatial autoregressive). We propose a likelihood ratio test of the null hypothesis of no break against the alternative hypothesis of a single break. The limiting distribution of the test is...

Businesses, all over the world, want a stabile legislation. In the economic domain, all the companies need a clear fiscal code on a long period of time. Unfortunately, in the last ten years, the Romanian Fiscal Code has been amended several times. The old fiscal code is in force since 2003 and...

That the modern state couldn't exist without taxes is something that doesn't need to be argued to society. It is also acknowledged that tax burden influences not only the budget revenues, but investments, demand and supply, prices and others. All this has direct as well as indirect influence on...

According to data released by the RF Federal Treasury, Russia’s federal budget revenue over the period of January– November 2014 increased by 0.5 p.p. of GDP on the same period of 2013 due to growth, by 0.5 p.p. of GDP, of the volume of oil and gas revenue. The main factor responsible for...

According to data released by the RF Ministry of Finance, the period-end results for January–February 2015 demonstrate that federal budget revenue shrank by 0.6 pp. of GDP, while expenditure increased by 7.1 pp. of GDP on the same period of the previous year. The data on the execution of the...

This paper deals with the funding of cultural activities, describing and analyzing the arguments that justify the State's participation in this funding. It analyzes the critics who claim to have been the cultural policies in Brazil left to the market due to the primacy of tax incentives, part of...

This paper deals with the funding of cultural activities, describing and analyzing the arguments that justify the State's participation in this funding. It analyzes the critics who claim to have been the cultural policies in Brazil left to the market due to the primacy of tax incentives, part of...

According to the preliminary data of the Ministry of Finance of the Russian Federation, on the basis of the results of January 2015 the federal budget revenues fell by 0.8 p.p. of GDP, while the expenditures rose by 14.0 p.p. of GDP as compared to the same period of the previous year. The annual...

Agriculture was and remains one of the basic branches of the national economy. The need to develop a modern agriculture, capable of ensuring food security of the country, requires special attention of the state to this branch. This attention is manifested by the elaboration and implementation of...

Based on the data supplied by the Federal Treasury of Russia, in the period of January 2014 thru February 2014, federal budget revenues amounted to Rb 2368,1bn or 22.5% of GDP, an increase of 1.6 p.p. of GDP against the corresponding period in 2013. Within the fi rst two months in 2014 oil and...

According to the data provided by the Federal Treasury of Russia, federal budget revenues increased 1.2 p.p. of GDP in the period of January to May 2014 compared to the corresponding period of the previous year. Consolidated budget revenues of the constituent territories of the Russian...

According to the data of the Federal Treasury, in January–March 2014 the federal budget revenues increased by 0.8 p.p. of GDP as compared to the same period of the previous year on account of growth of 1.1 p.p. of GDP in oil and gas revenues due to depreciation of the ruble exchange rate...

In the current tax evasion is a major phenomenon, with real implications and alarming economic and social life. The causes behind this are numerous, among them: - Size excessive tax burden; - Lack of education of the taxpayer on the one hand and overzealous fiscal organs prone to exaggeration,...

According to the data provided by the Federal Treasury of Russia, in H1 2014 federal budget revenues kept growing and accounted for 21.1% of GDP, gaining 1.1 p.p. of GDP over the level observed during the corresponding period of the previous year. At the same time, during the period between...

Federal budget revenues contracted 1.8 p.p. of GDP at the end of month 11 year-over-year, according to the Federal Treasury. At the end of month 10, consolidated budget revenues of the constituent territories of the Rus¬sian Federation also contracted by 1.2 p.p. of GDP against January-October...

According to the data of the federal Treasury, in January–August 2014 federal budget revenues rose by 0.9 p.p. of GDP as compared to the respective period of the previous year; within 7 months of 2014 the revenues of the consolidated budget of constituent entities of the Russian Federation...

According to the data of the Federal Treasury, in January–October 2014 federal budget revenues increased by 0.6 p.p. of GDP on the respective period of 2013 due to growth in oil and gas revenues. Within ten months of 2014, federal budget expenditures fell by 0.2 p.p. of GDP on the respective...

Rainy day funds (RDFs) are potentially an important countercyclical tool for states to stabilize their budgets and the overall economy during economic downturns. However, U.S. states have often found themselves exhausting their RDFs and having to raise tax rates or reduce expenditure while still...

The state budget includes the shares of national interest and it establishes the main mobilized financial resources available to the state, which are used to achieve social and cultural actions, defending the country, ensuring public order, the social protection and others alike. The economic...

According to data released by the RF Federal Treasury, Russia’s federal budget in January 2014 was executed with a surplus of 9.3% of GDP, while the budget for the same period of 2013 had been drawn with a deficit of 1.8% of GDP. The noticeable improvement of federal budget parameters resulted...

Federal budget revenues contracted 1.4 p.p. of GDP at the end of the period of January thru December 2013. The consolidated budget of the constituent territories of the Russian Federation fell 1.1 p.p. of GDP in the period of January 2013 thru November 2013 as compared to the corresponding...

According to the data of the Federal Treasury, in January–September 2014 federal budget revenues rose by 0.8 p.p. of GDP as compared to the respective period of the previous year. Within 9 months of 2014, oil and gas revenues of the federal budget increased by 0.6 p.p. of GDP, while non-oil...

The article briefly reviews the essence of main steps of the tax reform, which were introduced in Ukraine from 2010 until 2012 and dealt with improvement of the tax system and tax administration, reduction of tax load on the population and subjects of economic activity. It analyses the tax...

According to the data provided by the Federal Treasury of Russia, federal budget revenues gained 0.6 p.p. of GDP during the period of January to July 2014 relative to the corresponding period of the previous year; likewise, consolidated budget revenues of the constituent territories of the...

Sustainability of public finances requires a long-term balance of revenues and expenditures of the state budget. The strong dependence of tax revenues from commodity exports in the face of major price fluctuations on them makes the problem of maintaining the balance of income and expenditure of...

In the market economy the efficient management of production costs becomes the hottest action direction of the organization due to the requirements and demands of socio-economic. The itinerary of the economic entity is required to some extent so the possibilities for financing current activity...